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Georgia’s Voting Infrastructure Becomes the First Ransomware Target in 2020 Elections
The US voting system was under a ransomware attack earlier in October. The rumours are true and G...
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The UAE and Malta Organise a Joint Workshop to Share AML/CFT Knowledge & Experience
The UAE and Malta organised training workshops between 12-15 June to strengthen cooperation and c...
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Pandora Papers Highlight ‘Gatekeepers’ of Black Money, says EU Financial Watchdog
The new report of MONEYVAL offers a diminishing rebuke across European governments that are unabl...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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South Africa Gets the Green Signal for New AML/CTF Laws
South Africa has finally gotten a green signal for new finance laws to address shortcomings ident...
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DHS 19.5 Million Fine Imposed on UAE Banks for AML Failings
The Central Bank has imposed Dhs 19.5 million fine on UAE’s banks for shortcomings in the AML fra...
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Instagram is Adding Age Verification to Protect Minors
Instagram is adding age verification in order to provide a safer online community to the minors. ...
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SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report
South African banks have moved up into the high-risk category in the new report from the Prudenti...
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Australian Defense Department Hit by Ransomware Attack
Australian Defence Department has been hit by a ransomware attack. No information about former or...
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Cyprus Updates Money Laundering Measures to Supervise Crypto Platforms
Cyprus reshaped its anti-money laundering measures by amending the “Prevention and Suppression of...
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Two Bank Workers Banned by Central Bank in the Philippines for Wirecard Fraud
Two bank workers, involved in issuing fake documents, have been banned by the Central Bank. The a...
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Silly Season Scams to Rise as AFP Forewarns Fake Delivery Texts
The Australian Federal Police (AFP) has warned of fake delivery texts. Scammers use legitimate-lo...
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US Blocks Tornado Cash Investors for Money Laundering Risks & Links to Korean Hackers
The United States has frozen the assets of crypto investors from Tornado Cash Service, saying it ...
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South Africa Earmarked R265 Million to Get Off FATF’s Greylist
Finance Minister Enoch Godongwana announced on Tuesday that allocating R265 Million is one of sev...
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Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules
After Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, 14th February, the Dep...
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Coincheck customers fall victim to a data breach
In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...
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FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations
Approximately 75% of FATF member countries fail to adhere to or only partially comply with Recomm...
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Bulgaria Must Strengthen its Measures Against Money Laundering & Terrorist Financing – Moneyval
Moneyval called on Bulgaria to improve the regulatory standards for the domestic framework consis...
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US to Form ‘Digital Asset Working Group’ to Clarify Crypto Regulations
The U.S financial regulators are to work collectively to develop modalities for explicit crypto r...
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UK Convicts 11 Couriers for Conspiring to Launder $124 Million in Cash to Dubai
An investigation conducted by the UK’s National Crime Agency led to the conviction of 11 co...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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UK Government to Crackdown Corruption Under New AML laws
Overseas firms owning land in the UK need to publicly declare the owners, under the new UK laws t...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Research for Implications of CBDC on the Rise in Australia
As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...
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Seychelles Prosecutes First Money Laundering Case Against Elites from Pandora Papers
Seychelles, known for being a tax haven, was recently removed from the EU’s blacklist and is purs...
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US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case
Criminal charges are issued by the US Justice Department for the first time for transmitting more...
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ICAEW and B20 Task Force to Introduce Recommendations For Combating Financial Crimes
Policies for anti-money laundering and terrorist financing compliance will be introduced to comba...
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Singapore Scammers Launder Money Through Online Gambling
Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...
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The UK’s Joint Money Laundering Steering Group Amends Crypto Asset Travel Rule
The UK’s Joint Money Laundering Steering Group (JMLSG) amended the Money laundering and Terrorist...
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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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Natwest Caps Transfer Limit to Binance Over Fraud Concerns
Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...
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Australian Federal Police to Establish a Cryptocurrency Unit to Combat Money Laundering
AFP rolled out a dedicated crypto unit to combat monetary scams by fraudsters. According to AFP, ...
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Fraudulent crypto exchange shut down by UK High Court
The UK High Court has designated the Official Receiver as liquidator of GPay Ltd, the cryptocurre...
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Scammers Set to Defraud this Holiday Season, FBI Warns!
This holiday season, New Mexican shoppers are at risk of facing scammers. Criminals are all set t...
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LifeLabs Hit By a Data Breach Affecting Personal Information of 15 Million People
Canadian laboratory testing company, LifeLabs, disclosed on Tuesday that it had been a victim of ...
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US Treasury Hits Bittrex with $53 Million Fine Over Sanctions Violations
The US Treasury Department has imposed a $53 million fine on Bittrex for violating sanctions and ...
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Monetary System of Nation-States at Systematic Risk due to Stablecoins, Says FSB
With the introduction of global stablecoin like Facebook’s Libra, G20’s watchdog, the Financial S...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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Seychelles Upgrade on FATF Recommendation to Strengthen Anti-Money Laundering Measures
Seychelles has upgraded and implemented 5 FATF recommendations to strengthen anti-money launderin...
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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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Enhancing Transparency and Beneficial Ownership in the Fight Against Trade-Based Money Laundering
Criminals use trade-based money laundering (TBML) to move illicit money across jurisdictions. TBM...
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Transnational Organised Crime at Peak in Latin America through Cryptocurrencies
Transnational criminal organisations that have moved billions of dollars across Latin America are...
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Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’
5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. P...
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Money Laundering to Remain a Significant Challenge with Spike in Online Crime
Senior officers of Garda have indicated the rapidly rising problem of money laundering as the big...
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Sberbank Warns Russians; Cybercrime Cost the Nation $49bn in 2020
According to Russia’s largest state-owned bank, Sberbank, the total amount the citizens along wit...
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SA Government Passes New Legislation to Avoid FATF Gray list
South African government has passed two crucial legislations to prevent potential greylisting by ...
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Turkey Remains on the FATF Gray List for AML Regulations Failures
Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...
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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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FCA Dismisses Temporary Permissions of 4 EU Firms Operating in the UK
UK’s Financial Conduct Authority (FCA) has called out EU firms operating in the UK to meet their ...
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WHO Warns about Online Job Scams during COVID-19 Pandemic
A message shared on WhatsApp and Facebook claims that the World Health Organization (WHO) is adve...
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Cybercrime to Surge in Cryptocurrency Even in Post COVID-19 Economy
According to a report by Kaspersky Lab about cybersecurity and antivirus, in the post-COVID-19 wo...
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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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Turkey Set to Toughen AML Laws on Crypto Asset Platforms
Turkey is designing new and stricter obligations to prevent crypto-asset platforms from money lau...
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Saudi Arabia has Achieved Another Victory in the Battle Against Financial Crimes
Saudi authorities seized $1.06 million from a criminal gang accused of money laundering. The culp...
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Taiwanese Crypto Exchange Platform Under Investigation for Money Laundering
Taiwanese crypto exchange platform and a member of the Virtual Asset Service Provider (VASP), Bit...
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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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EU Confirms its Firm Stance on All Digital Currencies
The EU has confirmed its firm stance on all the digital currencies until the associated risks hav...
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UAE startup relies on Blockchain to flatten COVID-19 curve
In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...
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Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
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FBI Warns About the Emerging Fraud Related to COVID-19 Vaccine
The Office of Inspector General, U.S Department of Health and Human Services, FBI, and Centers fo...
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Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations
In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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Philippines to Exit FATF Gray List Next Year, Says Governor BSP
Felipe M. Medalla, the governor of BSP, says that the Philippines have one year to exit the FATF ...
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Fraudsters exploiting Coronavirus panic have scammed £1.6 million
United Kingdom investigators have reported more than 500 COVID-19 associated scams and over 2,000...
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FCA Spends $650K to Beef up its AML Control for the Crypto Industry
FCA spends $670,000 on training cryptocurrency exchange staff along with strengthening AML requir...
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PBOC Issues New Financial Rules to Curb Money Laundering Risks
The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...
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The Nigerian Bar Association (NBA) Introduces Anti-Terrorist Financing, Anti-Money Laundering Laws
Lawyers in Nigeria are being instructed to follow anti-money laundering and terrorist financing l...
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Hacker steals $250K by exploiting Bitcoin exchange Bisq
A hacker identified a significant software flaw on the decentralized Bitcoin exchange, Bisq, to s...
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Internet fraud complaints went up by 30% last year
As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...
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Standard Chartered Is Fined $13.6 Million by India’s AML agency
Standard Chartered Bank is fined $13.6 million by India’s anti-money laundering agency for 2007 d...
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HKMA Issues Guide for Regtech Adoption in Customer Monitoring
The second guide published by the HKMA will allow banks to test their internal measures and infra...
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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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